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CCB London Branch
CCBCLB is the UK establishment of China Construction Bank Corporation, a company incorporated in the People's Republic of China as a joint stock limited company and registered with the Beijing Administration for Industry & Commerce (now known as Beijing Municipal Administration for Market Regulation) under registration number 911100001000044477, with headquarters located at No.25, Finance Street, Xicheng District, Beijing, China, 100033.
CCBCLB is established in England and Wales under the establishment number BR017382 and at the establishment address of 111 Old Broad Street, London EC2N 1AP. Our VAT number in the UK is 441706314. CCBCLB is authorised and regulated by the National Administration of Financial Regulation (which replaced the China Banking and Insurance Regulatory Commission) in China. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Our reference number on the Financial Services Register is 652628.
The United Kingdom is the world’s highest net exporter of financial services and London, with its convenient time zones and its vibrant and diverse community, is the world’s top financial hub. The City of London, or the City as it is fondly known by its inhabitants, have since the Roman times, been the place where commerce and trade has flourished. Its ports drew merchants and entrepreneurs from many nations. Since then, the City has always been at the top in terms of global competitiveness.
It is of no surprise that China Construction Bank (“CCB”) chose London to establish the London Representative Office of China Construction Bank (“the Office”) in November 1991. The establishment of the Representative Office is big step forward for China and China Construction Bank; CCB was the first Chinese financial institution to establish a foreign office after the founding of the People’s Republic of China, and thus marking the starting point of the international development of the CCB Group.
In March 2009, the London Representative Office was upgraded to the first wholly-owned subsidiary of the CCB Group – China Construction Bank (London) Limited (“the Subsidiary”). CCB injected a capital of US$200 million and RMB 1.5 billion into the Subsidiary in 2009 and 2013 respectively. In June 2014, the Subsidiary was appointed by the People’s Bank of China (PBoC) as the sole Renminbi (RMB) Clearing Bank in the United Kingdom. This is a monumental milestone for CCB as it was the first time that PBoC granted RMB clearing qualifications outside of Asia.
The China Construction Bank London Branch (“CCBLB”) was established in the UK on 22 December 2014, and officially opened in February 2015 with an initial opening capital of US$50 million. The establishment of CCBLB gives full play to the advantages of all parties and it gradually took over the business of the Subsidiary. In 2016, with the approval of PBoC, the functions of the RMB clearing bank were transferred to CCBLB. Since then, CCBLB clears the largest volume of RMB globally outside of Asia. As of April 2024, our cumulative clearing volume has exceeded 100 trillion RMB, making CCBLB the largest RMB clearing centre outside China’s sovereignty for eight consecutive years.
The integration of CCBLB with the Subsidiary officially started in 2019. After successfully transferring all employees, businesses, accounts, properties, and other medium- and long-term assets of the Subsidiary to CCBLB, official approval of the termination of the Subsidiary’s operations by both the Chinese and UK regulatory authorities were obtained in 2021. The Subsidiary is currently completing its liquidation procedures and will be officially closed when all official processes have been completed.
The establishment of CCBLB in the UK allows CCB Group to play a greater role in developing closer trade links between the UK and China as well as supporting increased Chinese investments in the UK. CCBLB has direct access to the capital and liquidity resources of CCB Group, and is a key element in achieving the following business objectives of CCB Group in the UK:
- To satisfy the investment and trade requirements of UK and Chinese customers of CCB Group;
- To contribute to building London as the major off-shore RMB clearing centre outside Asia; and
- To assist general Chinese investment into and out of the UK.
CCBLB is authorised by the Prudential Regulation Authority, and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. It provides a comprehensive range of banking products and services including corporate banking, financial institutions, financial markets and RMB clearing services.
The vision of CCBLB is to become the foremost Chinese bank in the UK, and CCBLB is committed to operating at the highest levels of integrity, teamwork, customer service. We operate on a relationship-driven approach based on our core values and principles. Our expert and experienced London team is focused on delivery of wholesale banking solutions to support our clients.
- Financial Services Compensation Schema Information Sheet
- 2025-3-14
- 2023 UK Standard Terms of Business
- 2025-3-14
- CCB London Branch Privacy Notice
- 2025-3-14
